P3 and FACTON Partner to Deliver Enhanced Cost Engineering and Should Cost Calculations to Global Manufacturing Companies
FACTON, the leader in Enterprise Product Costing (EPC), today announced P3 has selected FACTON’s EPC Should Costing platform to support P3’s global engineering and consulting practice. The combined forces of P3´s technology-based consulting and FACTON software deliver world class purchase parts price analysis to manufacturers seeking to improve cost visibility and ultimately drive costs out of the supply chain.
P3 will deploy FACTON EPC Should Costing globally to deliver enhanced consulting, management and engineering solutions to their clients. This includes costing services for purchased parts using the FACTON system to enable fast decision making, business performance improvements, and traceability through accurate supplier cost calculations. Cost differences of only a few cents are important and difficult to identify without a specialized consulting approach and costing tool designed to make the information visible and actionable. P3 clients will gain significant benefits from the combined consulting/software solution.
P3 and FACTON chose to combine capabilities based on the following criteria:
Value delivered to P3 and FACTON customers – reducing supply chain costs
Flexibility to configure the approach to meet the demands of their existing client costing schemes
Standardization of the costing process across the various regions of the world
Mutual deep understanding of the manufacturing industry
Dr. Samit Ghosh, President and CEO of P3 North America Inc., explains: “We understand that it is critical for manufacturers to closely track price developments and perform precise cost calculations in order to remain competitive while focusing on innovation. The combination of P3 engineering services and FACTON software gives our clients a complete solution to control supply chain costs. It was crucial for us to find a technology partner that could deliver a global platform for purchase parts price analysis and should cost calculations. FACTON was the clear choice with the right depth and precision to meet our clients’ needs.”
“We are pleased to be collaborating with P3, a leading consulting, management and engineering solutions firm,” says Alexander M. Swoboda, CEO of FACTON. "P3 joining the growing number of customers who use FACTON EPC Should Costing platform is a clear sign that proactive and transparent product cost management is a top priority. Our work with P3 will deliver remarkable value to our mutual customer base and create a roadmap for new customers interested in reducing supply chain costs.”